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Richard
Richard, Lawyer
Category: Bankruptcy Law
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Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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A bankruptcy was filed in 2004. Included was the personal

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A bankruptcy was filed in 2004. Included was the personal loan on a mobile home and bare land. The occupants chose to keep making the payments but did not declare the debt as wanting to be re-affirmed. Four years later they left the property and the original lien holder regained their collateral. Would there be a change of title or foreclosure proceedings at that point when the debt was discharged in the BK?
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Richard replied 2 years ago.

Good afternoon. The bankruptcy would not have resulted in a change of title or foreclosure. The only thing that bankruptcy would have done would have been to discharge the occupants from any personal liability for any deficiency.

 

 

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Please be aware that the information provided here is not legal advice. Rather it is simply general information. All states have different intricacies in their laws and any information given is simply general information only and specifically is not intended to be, nor does it constitute, legal advice. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

Customer: replied 2 years ago.
What I need to know is when they quit making payments on a un reaffirmed debt four years later, would there be in recourse against the original buyers?
Expert:  Richard replied 2 years ago.
If the original buyers were the ones that went bankrupt....there would be no recourse against them.
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 45622
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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